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Newsletter: September 2009
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New opportunities for invoice finance
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Dear Colleague
Finding a suitable invoice finance solution from the huge number out there can be daunting. With our breadth of knowledge about what's available, we can help put you in touch with the best provider for your needs.
Simply fill in a free online quotation search request...
With kind regards,
Julie Blackman
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Freedom of choice of invoice finance provider
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When you're looking for invoice finance, it can be frustrating if your bank insists that you use its own invoice finance arm, rather than an independent firm, especially if the independent financier is offering more favourable terms.
We've even heard of cases where the bank has threatened to remove or reduce the current overdraft facility if the client does not go with the bank owned factoring company.
There are a number of options if you find yourself in this situation. The first is to point out to the bank that even if you used its own invoice finance arm, the book debts of your business will be pledged to them rather than the bank in support of any existing overdraft. Therefore, in terms of security, it should make no difference to the bank which invoice finance firm you go with.
Secondly, if the bank insists on its position, we can put you in touch with other banks who may take a more sympathetic view of your situation.
Common sense would suggest that 'having all your eggs in one basket' would not be a sensible strategy when financing your business.
Let us find you an alternative quotation ...
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Factoring agreements: avoiding the pitfalls
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Factoring is a very effective way of funding a growing business. Nevertheless, a firm can sometimes find itself tied into an unsuitable agreement. The answer is to be aware of the potential issues before signing.
In this article, we tell you what to watch out for with factoring agreements, guiding you through the common issues and how they can be avoided. Read the full article ...
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FINANCING YOUR EXPORTS
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Recent survey results from the CBI (Confederation of British Industries) reveals firms to be the most optimistic about export prospects that they have been for several years.
In fact, most medium sized companies surveyed expect the volume of export orders to rise during the next quarter.
If you're in the business of exporting and can see orders increasing, don't forget you'll need a strategy for funding those export sales and also for collecting in the outstanding sales invoices when the debtors are based overseas.
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Export factoring is one possible solution - see this article for a full explanation of the various options...
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